Visa partnership revolutionizes digital payment
SMART e-Money, Inc. (SMI), the mobile financial solutions arm of Smart Communications, Inc., in partnership with Citi Philippines and Visa recently unveiled Charge2Phone or C2P, the country’s first sticker-based Near Field Communication (NFC) payment solution that is expected to revolutionize the way Filipino consumers pay for face-to-face and online transactions. This innovative payment technology enables Smart and Sun postpaid subscribers to use their phones not only for SMS, calls and browsing services, but also to pay for small-ticket items. Because it is linked to the postpaid account, one’s mobile number may be used for online transactions. Designed to fit the back of one’s mobile phone device, C2P effectively transforms the mobile phone into a credit card or wallet.
Systems convergence to boost digital credentialing in EACS
Positive growth in the Electronic Access Control market is seeing an emerging trend in systems convergence. Recent analysis expects electronic security and alarm systems to be integrated with immediate onsite response solutions. The Electronic Access Control Systems (EACS) market includes authentication systems and credentials, intruder alarms and perimeter security, which monitor access as well as prevent malicious activities. The main convergence is where authentication systems are placed in-line and able to actively prevent intrusions that are detected using intruder alarms and perimeter security systems. As a consequence, the EACS market is witnessing a positive growth and increased adoption across the globe, estimated to reach $16.3 billion by 2017, according to market research. This embraces the global market for card-based EACS including proximity, smart and legacy technology based cards. Applications range across a number of key verticals from facilities management in business and industry to people safety in remote sites and critical infrastructures. Other key deployments include improved monitoring in command and control centers in urban hubs and the management of major events in large stadiums.
Data security confidence index reveals increase in digital breaches
Gemalto has released the latest findings of the 2015 Data Security Confidence Index (DSCI). The report reveals a widening gap emerging between the perception and the reality of perimeter security effectiveness amongst global IT decision makers. The research shows increasing levels of investment in this area of data protection, despite an exponential growth in the number of data breaches. The number of global data breaches continues to increase – according to Gemalto’s Breach Level Index (BLI), more than 1,500 data breaches led to one billion data records compromised in 2014 alone, a 49% increase in data breaches and a 78% increase in data records stolen or lost compared to 2013. Despite this the DSCI research shows that almost nine out of ten (87%) IT decision makers feel their organization’s perimeter security systems are effective at keeping out unauthorized users. The study shows that IT decision makers are looking to further increase their investment in perimeter security with 64% looking to do so in the next 12 months. Interestingly, when thinking of the most recent breaches, the average amount of breached data protected by encryption was below 8%, highlighting the need for a more robust data protection strategy.
IoT seen as key to connected systems growth
There is a growing level of excitement about a new era of smart, connected devices and systems, but it is not necessarily a top priority for companies, according to a new survey from Flextronics. The company recently released key findings of a survey it commissioned to measure awareness and adoption of the Internet of Things (IoT) among business leaders across a wide range of industries. While discussing a new ‘era of intelligence’, Flextronics unveiled initial results. These include figures that show today an average of 42 percent of products at the companies surveyed contain IoT embedded technology. The average is expected is to grow to 50 percent in two years and 66 percent in five years, as additional findings showed business leaders want their companies to invest in and prioritize IoT.